The Indian video conferencing market is projected to grow at a significant rate during the next five years. Integration of video communication services and solutions with advanced, novel, and innovative technologies such as artificial intelligence, the Internet of Things, and cloud-based solutions and technology is expected to drive market growth in the coming years. The surging number of internet users in urban and rural India is expected to further accelerate the adoption of video conferencing technology in the country. According to the report given by the Internet and Mobile Association of India in 2019, there were around 227 million active internet users in rural India, compared to 205 million users in urban India, as of November 2019. The growth is also expected to surge because of the lower prices of internet connections in the country, as compared to global prices. In April 2020, the Government of India announced an innovation challenge, intending to develop a video conferencing app. The government of India's focus is to develop a local and an Indian based app for its users.
Companies have been investing a significant sum of capital to develop novel technologies for the market. There has been a surge in the growth in the number of startups in the country. For Instance, In December 2020, BenQ, a major Taiwanese player in the market, launched a novel range of video conferencing cameras in India, to support the hybrid workspace reality. The company stated that the novel series helped in the creation of interactive and immersive conferencing experience for different types of workplace scenarios. Other companies have also been making substantial developments. In June 2020, Skyislimit Technologies Pvt. Ltd., an Indian based company launched a novel video conference platform called "Fokuz". This service aimed to enable and provide a seamless experience on virtual interactions.
The COVID-19 pandemic has drastically touched every sphere of the economy and has transformed the existing working style in the Indian sub-continent as the government has temporarily closed all forms of industry ranging from manufacturing to educational institutions in an attempt to contain the spread of the COVID-19 pandemic. As a result, the way of employment has changed dramatically, with the distinctive rise of the remote working format in the country. Even, in the education sector teaching is undertaken remotely and on digital platforms. In addition, favourable government initiative towards the adoption of online education platforms is anticipated to propels growth opportunities in the coming years. For instance, recently, the Ministry of Human Resource Development (HRD) shared various free digital e-Learning platforms that students capitalize on to continue their learning during COVID-19 based school closures. Besides, due to the pandemic video conferencing is widely adopted in all forms of industry as a platform of interaction after the restriction in social gathering and work from home measures were lifted in the country. Many new players have also entered the market to tap the growing market for such platforms, for instance, in July 2020, Reliance Jio Infocomm Ltd launched its video conferencing service JioMeet that free to use, after it arrived in the market. Airtel also launched the video conferencing app BlueJeans in July itself to compete with the existing rivals in the industry. Furthermore, domestic players are raising capital to engage in the ongoing competition in the videoconferencing industry that is a sign of the stable and high growth potential of the domestic market. For instance, in September 2020, Kochi-based Skyislimit Technologies, video-conferencing platform Fokuz, a US$2 million angel investment from a US-based healthcare and manufacturing company.
Zoho Corporation Pvt. Ltd
Zoom Video Communications, Inc.
Blue Jeans Network, Inc.
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